The joint effect of framing and anchoring on internet buyers' decision-making

Authors:
Chin-Shan Wu;Fei-Fei Cheng
Affiliations:
Tunghai University, Department of Information Management, No. 181, Section 3, Taichung Port Rd., Taichung City 40704, Taiwan ROC;National Chung Hsing University, Institute of Technology Management, 250 Kuo Kuang Rd., Taichung 402, Taiwan
Venue:
Electronic Commerce Research and Applications
Year:
2011

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Abstract

This article reports on an experiment that examines the influence of message framing and anchor points, and the joint effect of these two information cues on Internet consumers' judgments regarding attitude, purchase intention and willingness to pay. The role of participants' subjective knowledge is also evaluated. The experimental results suggest that message framing, which describes a product's attribute in positive or negative terms, significantly influences participants' attitude toward and their intention to buy the product. In addition, participants' willingness to pay was significantly influenced by the presentation of anchors embedded in banner advertisements. Further, a significant interaction effect for message framing and anchor points indicate that their congruence enhances the effects of information presentation on people's responses. Specifically, describing a product attribute in positive terms along with a high anchor point induces more favorable response than any other framing and anchoring combinations. Finally, online shoppers who are low in product knowledge are more susceptible to framing and anchoring influences. The findings provide guidance for designing appropriate product and price cues to induce Internet consumer responses that favor online retailers.